ESTABLISHMENT experts and politicians have a “semi-religious” belief in the European Union (EU) that will lead them to repeat judgement errors over the economy and trade amid Brexit negotiations, Wetherspoon boss Tim Martin has warned.

Britain should accept nothing less than a free trade agreement with the EU - and be prepared to walk away from a poorer deal, according to the pub chain chairman.

The UK would be in for a windfall if it adopts World Trade Organization (WTO) tariffs and should choose this option if Brussels won't agree to free trade after Brexit, said the chairman.

He added that economists and instiutions who have previously backed joining the euro and remaining in the EU are set to make the wrong call again, if they don't admit mistakes and change their way of thinking.

Mr Martin made the comments as Wetherspoon revealed like-for-like sales rose 3.2 per cent in the 12 weeks to January 15.

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Tim Martin has called for free-trade deal or nothing with EU after Brexit

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However, sales are expected to be lower in the next six months amid higher costs.

The company is set to almost double investment in its pubs from around £34million in 2015/6 to around £60m in the current year.

Mr Martin said: “The majority of economists, economic institutions, politicians and intellectuals has consistently misunderstood the implications of the euro, its predecessor the exchange rate mechanism and the implications of leaving the EU, over a period of about 30 years.

“The underlying reason for their catastrophically poor judgement is a semi-religious belief in a new type of political and economic system, represented by the EU, which lacks both proper democratic institutions and the basic ingredient for a successful currency – a government.

“It also lacks any genuine commitment to free trade, other than to countries which are in, or on the borders of, the EU.

“Unless these lessons are learned and acknowledged by economists, their historic mistakes will be repeated.”

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He added: “Most people now understand that the mutual imposition of World Trade Organization (WTO) tariffs would create a windfall for the UK, so a sensible basic mantra for the UK is ‘free trade or World Trade Organisation rules – the EU can choose’.”